Topic: | Nxt | Blockchain Platform | Proof of Stake | Official - page 493. (Read 941260 times)
AE is going to come！！
Thanks! Also I understand forging helps make the network stronger. But can people with small amounts of nxt like <50000 be able to get something from it?
If by get something you mean Nxt, then no. Your chances of forging a block are a fraction of a percent and even if you hit the jackpot, it's likely you'll forge a block with nothing in it.
Maybe if the guy with a lot of Nxt starts (or joins) a pool and doesn't take a share you'll get something out of it but that would really be the only way.
Hey Guys, please show your support for Nxt on BTC38
https://www.facebook.com/btc38
https://twitter.com/btc38com
https://www.facebook.com/btc38
https://twitter.com/btc38com
Does not seem to be an official fb page ! Careful
Hey Guys, please show your support for Nxt on BTC38
https://www.facebook.com/btc38
https://twitter.com/btc38com
https://www.facebook.com/btc38
https://twitter.com/btc38com
Does not seem to be an official fb page ! Careful
Instead of making false statements, try posting a link to support your claim.
Hey Guys, please show your support for Nxt on BTC38
https://www.facebook.com/btc38
https://twitter.com/btc38com
https://www.facebook.com/btc38
https://twitter.com/btc38com
Does not seem to be an official fb page ! Careful
Hey Guys, please show your support for Nxt on BTC38
https://www.facebook.com/btc38
https://twitter.com/btc38com
https://www.facebook.com/btc38
https://twitter.com/btc38com
Thanks just did.
Hey Guys, please show your support for Nxt on BTC38
https://www.facebook.com/btc38
https://twitter.com/btc38com
https://www.facebook.com/btc38
https://twitter.com/btc38com
The NXT Community & Development Update has been cancelled for today due to my work schedule. Bas & David are unable to host the update due to their work schedules as well.
We will continue the update next week.
You can catch previous updates here:
http://nxtfoundation.com/updates/
Sorry for the inconveniences folks.
Tai Zen
We will continue the update next week.
You can catch previous updates here:
http://nxtfoundation.com/updates/
Sorry for the inconveniences folks.
Tai Zen
Thanks for all the valuable information what you guys are putting together.
Next week is going to be awesome week for NXT.
I am already holding on to my hat!!
Seeking Silver Sourcers/Retailers. Profit Potential
https://nxtforum.org/silver-bullion-gateway/seeking-silver-sourcersretailers-profit-potential/
https://nxtforum.org/silver-bullion-gateway/seeking-silver-sourcersretailers-profit-potential/
Thanks for the heads up Tai Zen. Looking forward to the next update 
The NXT Community & Development Update has been cancelled for today due to my work schedule. Bas & David are unable to host the update due to their work schedules as well.
We will continue the update next week.
You can catch previous updates here:
http://nxtfoundation.com/updates/
Sorry for the inconveniences folks.
Tai Zen
We will continue the update next week.
You can catch previous updates here:
http://nxtfoundation.com/updates/
Sorry for the inconveniences folks.
Tai Zen
Thanks! Also I understand forging helps make the network stronger. But can people with small amounts of nxt like <50000 be able to get something from it?
Having this kind of pool of course. Especially because he does not want to have piece of the cake.
Thanks! Also I understand forging helps make the network stronger. But can people with small amounts of nxt like <50000 be able to get something from it?
Can someone give me a quick rundown of what that first transaction achieves? Why is your account more secure afterwards?
This has relevance for cold storage, since it's not possible to send NXT into a verified account that has been created solely offline. Although you can create the address easily enough and send funds to it, what's the trade-off with connecting it to the web for that one transaction and the security it brings?
This has relevance for cold storage, since it's not possible to send NXT into a verified account that has been created solely offline. Although you can create the address easily enough and send funds to it, what's the trade-off with connecting it to the web for that one transaction and the security it brings?
I can't explain from the level of the code (I don't think that is what you want anyway
) but...An account without an outgoing transaction has 64 bit encryption. When you send an outgoing transaction, the account number (public key) is registered on the Nxt Blockchain. This then provides the account with 265 bit encryption.
As I understand it, it is possible that 64 bit could be bruteforced within 2-3 years. 256 bit makes it practically impossible to bruteforce.
Thanks! Actually I was hoping for a little more detail
The address is something like sha256(curve25519(sha256(key))). It is presumably as easy or hard to bruteforce this regardless of whether an account has been verified. If you know the key, you have access to the account.
You must be talking about an intermediate step - a way of sending funds from an account without using its private key?
You need someone better than me to go into detail
All I know is bruteforcing a 64bit key (1.8^19 possible combinations) is much easier than bruteforcing a 265bit key (1.15^77 possible combinations). How it is actually converted between the two...?
If you are on Nxtforum, the best place to post for the detail would be https://nxtforum.org/general/ and it will get picked up by the devs.
Can someone give me a quick rundown of what that first transaction achieves? Why is your account more secure afterwards?
This has relevance for cold storage, since it's not possible to send NXT into a verified account that has been created solely offline. Although you can create the address easily enough and send funds to it, what's the trade-off with connecting it to the web for that one transaction and the security it brings?
This has relevance for cold storage, since it's not possible to send NXT into a verified account that has been created solely offline. Although you can create the address easily enough and send funds to it, what's the trade-off with connecting it to the web for that one transaction and the security it brings?
I can't explain from the level of the code (I don't think that is what you want anyway
) but...An account without an outgoing transaction has 64 bit encryption. When you send an outgoing transaction, the account number (public key) is registered on the Nxt Blockchain. This then provides the account with 265 bit encryption.
As I understand it, it is possible that 64 bit could be bruteforced within 2-3 years. 256 bit makes it practically impossible to bruteforce.
Thanks! Actually I was hoping for a little more detail
The address is something like sha256(curve25519(sha256(key))). It is presumably as easy or hard to bruteforce this regardless of whether an account has been verified. If you know the key, you have access to the account.
You must be talking about an intermediate step - a way of sending funds from an account without using its private key?
I want to help to promote the idea of leased forging pools by leasing my 50M stake to a pool with conditions:
a) leasing period - 30*800=24000 - approximately 1 month;
b) my stake will forge for free - all collected fees must be proportionaly distributed between pool members except me;
c) pool must have transparent accounting system - any participant can see in realtime (may be with some delay of 10 or so blocks) his forging progress.
a) leasing period - 30*800=24000 - approximately 1 month;
b) my stake will forge for free - all collected fees must be proportionaly distributed between pool members except me;
c) pool must have transparent accounting system - any participant can see in realtime (may be with some delay of 10 or so blocks) his forging progress.
The famous and mysterious Mr. 4747...888 shows up again.
For those who complain the forging income, now it's your chance to forge something decent.
I want to help to promote the idea of leased forging pools by leasing my 50M stake to a pool with conditions:
a) leasing period - 30*800=24000 - approximately 1 month;
b) my stake will forge for free - all collected fees must be proportionaly distributed between pool members except me;
c) pool must have transparent accounting system - any participant can see in realtime (may be with some delay of 10 or so blocks) his forging progress.
a) leasing period - 30*800=24000 - approximately 1 month;
b) my stake will forge for free - all collected fees must be proportionaly distributed between pool members except me;
c) pool must have transparent accounting system - any participant can see in realtime (may be with some delay of 10 or so blocks) his forging progress.
Why it is so complicated? Lease to my account for one month and that's all
I want to help to promote the idea of leased forging pools by leasing my 50M stake to a pool with conditions:
a) leasing period - 30*800=24000 - approximately 1 month;
b) my stake will forge for free - all collected fees must be proportionaly distributed between pool members except me;
c) pool must have transparent accounting system - any participant can see in realtime (may be with some delay of 10 or so blocks) his forging progress;
d) TF implemented and run.
EDIT: by advice of Come-from-Beyond I added fourth condition to avoid doublespending attack.
a) leasing period - 30*800=24000 - approximately 1 month;
b) my stake will forge for free - all collected fees must be proportionaly distributed between pool members except me;
c) pool must have transparent accounting system - any participant can see in realtime (may be with some delay of 10 or so blocks) his forging progress;
d) TF implemented and run.
EDIT: by advice of Come-from-Beyond I added fourth condition to avoid doublespending attack.
Vertcoin sub-post say's PoS is not secure, any comments about?
In what way is it not secure? A statement like this without any explanation is just FUD, is it not?
If they use the phrase "Coin Age" in their reply, it is irrelevant to Nxt as Nxt does not use Coin Age like Peercoin and it's clones (Novacoin, Blackcoin, Whitecoin et al).
Nxt uses a new form of POS, ask if their comments relate to Nxt and we can talk more.
Can someone give me a quick rundown of what that first transaction achieves? Why is your account more secure afterwards?
This has relevance for cold storage, since it's not possible to send NXT into a verified account that has been created solely offline. Although you can create the address easily enough and send funds to it, what's the trade-off with connecting it to the web for that one transaction and the security it brings?
This has relevance for cold storage, since it's not possible to send NXT into a verified account that has been created solely offline. Although you can create the address easily enough and send funds to it, what's the trade-off with connecting it to the web for that one transaction and the security it brings?
I can't explain from the level of the code (I don't think that is what you want anyway
) but...An account without an outgoing transaction has 64 bit encryption. When you send an outgoing transaction, the account number (public key) is registered on the Nxt Blockchain. This then provides the account with 265 bit encryption.
As I understand it, it is possible that 64 bit could be bruteforced within 2-3 years. 256 bit makes it practically impossible to bruteforce.
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